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SEller, Broker, Mortgage Company |
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My fiancee and I are looking to buy our first home for when we get married. We met with a realtor at a house we liked, and she gave us the number of a mortgage consultant. I noticed the last name on the door of the mortgage agency was the same as the seller of the house. I've done a little reasearch and I'm pretty sure they are husband/wife. The realtor was from the same place. It seems like a conflict of interest to me that the seller, realtor and mortgage consultant have a business relationship with each other and us as well. Also, the mortgage consultant was telling us it would be a good idea to offer close to, or exactly what the seller was asking so we could get more assistance with the Ameridream program and closing costs, etc. Being a first time home buyer, I wasn't sure what to think of this, and I am a little confused about how the Ameridream program works. Should I be worried about this? |
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You should be working with your own buyers' broker, someone who is legally obligated to put your interests first. And you can consult other mortgage brokers, to see if they give you the same information you got in that first place.
Yes, that agent should have disclosed any special relationships--that's the law. If you still want that exact house, let your own broker arrange the question of commissions with the agent who showed you the place. Or else start all over with something else. |
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Edith
Originally published on July 22, 2008 |
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